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Jefferson Vs Hamilton Case Analysis

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It is evident that Hamilton and Madison stood out as great friends, and that they shared common things in as far as ideological concerns are concerned. They had worked together in the confederation congress in the early 1780s. However, the problem and differences began between the two in the year 1790, and this was guided by the state of the public debt. The famous report on public credit submitted by Hamilton was aimed at solving financial challenges in the states (Broadwater, 2012). The state of the debt seemed to be occasioned by the lack of organization and proper communication that would accompany it. The overall belief was that it was very possible to enhance the solution of the public debt in various ways. The creation of the Bank of …show more content…

If it would have been adopted, it would ensure that power rested on the people, and that they would never be at the mercies of the state and the federal government (Broadwater, 2012). However, the acute vision of Hamilton prevailed, making the American people not to have an access of the wide array of privileges they had widely anticipated. If the financial debt plan had worked, it would also limit unnecessary spending by the national government, and ensure that people had a say on the things that mattered mostly to them. The weak central government would act as an overseer of the states, and would not be domineering in their affairs as it has been since Hamilton’s death (Mattern, 2005). This would also ensure that the American people had an increased autonomy from the political class, and ensure that they are free to engage in their daily activities without interference by the various federal programs that were proposed and adopted courtesy of Hamilton. Adoption of Madison’s debt plan perspective was a prudent way of ensuring that states control the funds. Funds controlled by the states would be used in line with the budgets of the various respective states. This would mean that the various caps the federal government puts in the states are very limited, and that would ensure that the interests of the people are the ones served instead. The manner in which the United States enters into debt would also be diminished as there would be prudent financial management and utilization utilizing on foreign borrowing and utilizing pending, which would highly utilize on the deficit (Leibiger,

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In 1791, Treasurer Alexander Hamilton proposed the First Bank of the United States, also called the First Bank, which, with the necessary-and-proper clause, allowed the government to act on the four rights stated in the Constitution: “the rights to collect taxes, borrow money, regulate trade among states, and support fleets and armies.” The charter of the First Bank caused a debate that Secretary of State, Thomas Jefferson, a large opponent of a central banking system, later described as “the most bitter and angry contest ever known in Congress before or since the union of the states.” The intensity of it is conveyed in “Cabinet Battle #1” in Hamilton: An American Musical, in which the debate between Hamilton and Jefferson is recreated in

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In the 1790s, there were two men who had different beliefs regarding how the United States should function. The two men were Alexander Hamilton and Thomas Jefferson. Jefferson was the leader of the Republican party and Hamilton was the leader of the Federalist party. The political parties were created by Hamilton and Jefferson based on their differences in opinion on how the country should run. For example, Jefferson believed that the government should be self-governed and all of the power should go to the individual states.

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1271 Words | 6 Pages

4. Discuss the essential differences between Hamiltonians and Jeffersonians during the 1790s. The Hamiltonians, followers of Alexander Hamilton, and the Jeffersonians, followers of Thomas Jefferson created a faction of sorts after the establishment of the Constitution. The Hamiltonians had worked to “establish a national network of influence that embodied all the worst features of a party” (Brinkley, 171).

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The topic of the night was the national debt crisis. Alexander Hamilton, a strong supporter of federal assumption, and James Madison, a loyal Virginian, were among the guests of this carefully calculated soiree. Personal motivations of wealth and power guided their conversations. Hamilton’s economic plan was devised to benefit the urban elite, who were, in his mind, the keystone of American economics. States like Virginia that had managed to pay off large amounts of their debt, now risked being charged more in new taxes under Hamilton’s plan.

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All through his book Gordon explains how the debt has influenced and shaped the history of America economy. Hamilton wanted to reshape the American economy, thus he proposed the virtues of the national debt claiming that when it is limited it may be a national blessing. While providing the audience with a history of the American debt, Gordon aims at proving Hamilton 's beliefs. Indeed, the author wants to show that if the debt is used wisely, it may turn out to be a useful political and economic instrument. To support the assertion that the budget deficit is not necessarily evil, he includes different events of the American history.

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669 Words | 3 Pages

President George Washington appointed Alexander Hamilton as the Treasury Secretary and Hamilton took it upon himself to develop an economic structure for the United States. Hamilton used a strategy of loose construction for the interpretation of the constitution.

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876 Words | 4 Pages

He successfully argued for the assumption of state debts by the federal government and the establishment of the first national bank – a private, but partially government-owned institution. He firmly established the principles of financial trading. Due to his efforts, the creditworthiness of the United States was restored. Hamilton’s accomplishments as Treasury Secretary were not achieved without a struggle. His congressional opponents tried to exhaust him by demanding detailed reports on the workings of the treasury department with incredibly short delivery dates.

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283 Words | 2 Pages

Political parties, Democratic Republicans and Federalists, started in the U.S. because of differing views of Alexander Hamilton and Thomas Jefferson, and the influence of newspapers. Jefferson’s and Hamilton’s different ways of thinking(mostly on issues that was beneficial for the country) played a huge part in the start of political parties. They fought about economy. Jefferson liked farming while Hamilton preferred manufacturing and trade. Interpretation of the Constitution was another thing they fought upon.

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1449 Words | 6 Pages

Hamilton 's monetary course of action for the nation included working up a national bank like that in England to keep up open credit; cementing the states ' commitments under the focal government; and initiating guarded tolls and government enrichments to empower American makes. These measures fortified the administration 's vitality to the hindrance of the states. Jefferson and his political accomplices limited these progressions. Francophile Jefferson expected that the Bank of the United States addressed an inordinate measure of English effect, and he battled that the Constitution did not give Congress the capacity to set up a bank. He didn 't assume that propelling produces was as basic as supporting the authoritatively settled agrarian base.

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1568 Words | 7 Pages

Hamilton wanted to create public credit with a treasury system, a national bank, a mint, and increase manufacturing which would help unify the country. On the other hand, there was Jefferson, who opposed a strong central government. He argued that the “wealthy would gain at the expense of ordinary Americans and that Hamilton’s political economy would corrupt the morality of citizens and undermine the social conditions essential to republican government”(Powerpoint). The country would opt for an approach closer to Hamilton’s views. One of the first acts was the National Banking Act.

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961 Words | 4 Pages

Alexander Hamilton, the first Secretary of Treasury of the United States, had a lot going for himself being a man that came from poverty to success, and he was a man “all powerful and fails at nothing which he attempts” admitted a congressman in 1791 (Tindall and Shi). Born in the Caribbean in the West Indies, abandoned by his father and orphaned at the age of 13 by his late mother who had died. Later moved to New York, became a lawyer and transitioned to nationalism thus giving him the important role of handling the weight of the debt America had accumulated $54 million deep after the Revolutionary War (Digital History). Hamilton saw the need for some financial credit to be given to America and he had the right idea by proposing a National Bank to his first president George Washington. Word dispersed of that proposal leading a

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871 Words | 4 Pages

Both men went head to head about what was best for the United States. Hamilton was for a strong central government, different areas of work to help provide for the country and he thought that the nation need a bank. Hamilton favored a strong central government and wanted to

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647 Words | 3 Pages

30, Hamilton argues the need for the Union to “raise sufficient profit through taxes.” Hamilton quote that “Money is, with propriety, considered as the vital principle of the body politic; as that which sustains its life and motion, and enables it to perform its most essential functions.” Hamilton believed that in order to continue to support the national forces, civil list, and payments of national debts, the government needs money, and the only possible way to get money was from taxes. Hamilton was aware that for the government to run effectively taxes were were necessary (Hamilton

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1081 Words | 5 Pages

Before they came to this compromise, the Americans were divided mostly between the North and the South. The states were still independent and against the idea of a federal government overruling the people of the states. If the South hadn’t made the deal to help the North with its debt, they might have fallen into a extremely severe depression, and the nation might not even be together. Hamilton understood the need for the states to stand on a united front, which is why he supported The North. Madison led the South, which was against the taking on of the rest of the countries debt due to already being rid of their own.

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649 Words | 3 Pages

When it comes to Thomas Jefferson and Alexander Hamilton the main difference between the two was their political party. The basis of each of their political parties set the boundaries for their beliefs and their views as politicians. Both men were founding fathers of our country, and made a huge impact on history as we know it. Without these men, our country's government might not be what it is today. One of the only similarities of Jefferson and Hamilton was their want to diminish national debt.

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